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AllianceBernstein Holding LP AB

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Positive Flows and Market Gains Lift AB's AUM to $738 Billion in Q2; Raising FVE to $43 per Share

Greggory Warren, CFA Sector Strategist

Analyst Note

| Greggory Warren, CFA |

While there was little in no-moat AllianceBernstein's second-quarter results that would alter our long-term view of the firm, we have increased our fair value estimate to $43 per share from $40 to account for continued improvements in the company's assets under management and adjustments to our near- to medium-term forecasts for the firm since our last update.

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Company Profile

Business Description

AllianceBernstein provides investment management services to institutional (45% of assets under management), retail (40%), and private (15%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of June 2021, AB had $738.4 billion in managed assets, composed primarily of fixed-income (45% of AUM) and equity (43%) strategies, with other investments (made up of asset allocation services and certain other alternative investments) accounting for the remainder. The company also provides sell-side research and brokerage services through its Sanford Bernstein subsidiary.

Contact
1345 Avenue of The Americas
New York, NY, 10105
T +1 212 969-1000
Sector Financial Services
Industry Asset Management
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 3,929

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